WASHINGTON, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to a report by Vantage Market Research, the Global Activated Alumina Market was worth USD 1.12 Billion in 2021 and is expected to be worth USD 2.05 Billion by 2028, with a CAGR of 7.80% between 2022 and 2028. The report gives an in-depth look at the top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an important and helpful source of information for leading market players, investors, new entrants, and other stakeholders who want to make new plans for the future and take steps to strengthen their position in the market. in a report, titled “Activated Alumina Market Size, Share & Trends Analysis Report by End Use (Oil & Gas, Water Treatment, Plastics, Healthcare), by Application (Catalyst, Desiccant, Fluoride Adsorbent, Bio Ceramics), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Increasing fuel demand from major end-use sectors will augment the oil & gas production and supply in coming years is major factor that is driving the demand for the Activated Alumina Market. Rising government initiatives for the development of clean water and effluent treating facilities is further fueling the demand from the market. Aluminium and aluminium based material are significant industrial materials synthesis because of their abandonment, low weight and high-quality corrosion resistance.
The most advances in aluminium processing are the ability to synthesize it’s under suitable chemical composition and conditions, a porous structure can be formed on the surface.
List of Prominent Players in the Activated Alumina Market:
- Sumitomo Chemical Co.
- BASF SE
- Porocel Industries LLC
- Honeywell International Inc.
- Dynamic Adsorbents Inc.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 1.12 Billion |
| Revenue Forecast by 2028 | USD 2.05 Billion |
| CAGR | 7.80% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players |
|
What is Activated Alumina? How Big is Activated Alumina Market Size?
Market Dynamics:
Drivers:
Increasing Government Initiatives
The level of heavy metals in drinking water is getting very high in both villages and cities owing to the activities such as mining and industrial waste disposal. Therefore, it becoming important physicochemical needed to be factor, which needed be considered when assessing water quality for both human, animal and plant consumption according to this will enhance the condition of wellbeing animal and human, hence government bodies are taking initiatives and offering subsidies for treating such areas. This has led to interests in the contract labour companies to take initiatives and offer job, thus helping the market to flourish during the forecast period.
Key Insights and Findings from the In-depth Report:
- The beads sub-segment from the form segment is anticipated to dominate for the Activated Alumina Market. This segment is attributed owing to the high demand for water treatment plants thus helping the market to flourish in coming years.
- The application segment is accounted for the largest market share in 2021. The water segment is considered to be the fastest-growing owing need for water purification in major cities.
- Asia Pacific is the largest regional segment. This surge is attributed to the rising demand for activated alumina in developing economies such as China and India.
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Restrain:
High Cost of Product and Skilled Labour Required
The cost of activated alumina is huge compared to traditional products. In developing countries, consumer preference mainly varies with respect to the price of the product. Also, low purchasing power, low per capita income, and low awareness about activated alumina in the developing countries compared to the developed ones resulted in the high growth of the market. Moreover, the requirement of skilled labour for the application of activated alumina is hampering the growth of the Activated Alumina Market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the activated alumina manufacturing industry. Small and medium-scale companies are the backbone of these technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Activated Alumina Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Regional Analysis:
Asia Pacific Holds Maximum Market Share
Asia Pacific is expected to dominate the growth of Activated Alumina Market in 2021. The regional oil production witnessed a growth of around 35 thousand barrels/day between 2018 and 2019; whereas the oil consumption increased by around 720 thousand barrels/day during the same period. The availability of raw materials, cheap labour, increasing urbanization, and rising public & private investments are some of the factors augmenting the growth of regional industries. Rising population, stringent government regulations, and support initiatives to bolster water treatment activities in the region will also prosper the regional Activated Alumina Market value.
Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Activated Alumina Market Forecast Report (2022-2028).
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